XAUUSD:Post Christmas Trading Strategy

✅Today is the Christmas holiday, the gold market is closed all day, and 2024 is about to usher in the closing stage. Judging from the current market performance, the probability of gold remaining volatile is high. The monthly line level shows that the bullish trend is still intact, and the large and small cycle moving averages are in a bullish arrangement, supporting long-term bullish expectations. However, the weekly chart shows that the MA5 and MA10 moving averages have formed a dead cross and run downward, while the BOLL indicator is slowly closing, indicating that the market has entered a volatile adjustment stage, and it may continue to decline after consolidating at a high level in the future.

✅Short-term technical analysis:
Gold rebounded yesterday and fell rapidly after encountering resistance, showing a relatively weak performance.
The bulls failed to stand firm at a high level, and the rebound momentum was insufficient, forming a short-term bearish structure.
✅1-hour chart analysis:
Yesterday, the price fell back after hitting the high twice, showing a short-term double top pattern, further strengthening the weak signal.
The short-term moving average resistance has moved down to around 2622, which has become a key resistance level.

✅When the rebound encounters resistance, short selling is still the main method and follow the trend.
🔴Resistance level: Pay attention to the 2622-2625 range in the short term as the rebound pressure level.
🟢Support level: Pay attention to the 2600-2598 range in the short term as the callback support level.

✅Trading strategy:
🔰If gold rebounds to around 2622, short selling can be considered.
🔰After falling below the key support level of 2600, we should continue to pay attention to the support situation near 2598.

📛Risk warning: High position holders need to pay attention to potential adjustment risks. The market may continue the structure of downward highs and lows. There is no reversal signal in the current trend of gold, and the short-term is still dominated by a volatile bearish structure. The market lacks major news stimulation, and the volatile market is expected to continue for some time. Traders need to pay attention to the key resistance and support positions, follow the trend, and avoid blindly chasing the rise and killing the fall. At the same time, they need to be alert to market adjustment risks, reasonably control positions, and ensure proper risk management.

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